Robert Franko - 21 Jul 2021 Form 4 Insider Report for First Choice Bancorp

Reporting relationship: President & CEO
Issuer ticker: N/A
Reported as of: 21 Jul 2021
Net transaction value: -$389,695
SEC form: 4
Accepted by SEC: 22 Jul 2021, 19:24:55 UTC
Prior SEC filing: 27 May 2021
Next SEC filing: 04 May 2023
Source filing: View source filing
Reporting owner signature: /s/ Khoi Dang, as attorney in fact for Robert M. Franko

Key filing fact

Robert Franko filed Form 4 for First Choice Bancorp on 22 Jul 2021.

Key facts

This page summarizes Robert Franko's Form 4 filing for First Choice Bancorp.
5 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 22 Jul 2021, 19:24.

Change

Previous filing in this sequence was filed on 27 May 2021.
Current net transaction value: -$389,695.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

FCBP transaction

Common Stock

Tax liability

Transaction value: $389,695
Shares: -13,410
Change %: -33%
Price: $29.06
Shares after: 27,345
Date: 21 Jul 2021
Ownership: Direct
Footnotes: F1, F2

FCBP transaction

Common Stock

Disposed to Issuer

Transaction value: $0
Shares: -27,345
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 21 Jul 2021
Ownership: Direct
Footnotes: F2

FCBP transaction

Common Stock

Disposed to Issuer

Transaction value: $0
Shares: -36,107
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 21 Jul 2021
Ownership: Franko Rev. Living Trust
Footnotes: F2

FCBP transaction

Common Stock

Disposed to Issuer

Transaction value: $0
Shares: -11,496
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 21 Jul 2021
Ownership: IRA
Footnotes: F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

FCBP transaction Derivative

Stock Options (Right to buy)

Disposed to Issuer

Transaction value
Shares: -32,448
Change %: -100%
Price
Shares after: 0
Date: 21 Jul 2021
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 32,448
Exercise price
Footnotes: F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Robert Franko is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 3 footnotes

Footnote F1

Shares withheld solely for the purpose of satisfying tax liability due upon vesting of restricted stock award.

Footnote F2

Shares disposed of pursuant to the Agreement and Plan of Merger, dated as of April 26, 2021 (the "Merger Agreement"), by and among First Choice Bancorp. ("Issuer"), and Enterprise Financial Services Corp ("Enterprise"), on July 21, 2021, Issuer was merged with and into Enterprise, with Enterprise continuing as the surviving corporation (the "Merger"). At the time of the Merger, each share of Issuer common stock was converted into the right to receive Merger consideration consisting of 0.6603 shares of Enterprise common stock. Disposed shares includes unvested restricted stock previously granted under the First Choice Bancorp 2013 Omnibus Stock Incentive Plan which became fully vested at the time of the Merger and eligible to receive Merger Consideration.

Footnote F3

Represents shares subject to stock options that are being cancelled pursuant to the terms of that certain Merger Agreement, dated April 26, 2021, by and between the Issuer, First Choice Bank, Enterprise Financial Services Corp and Enterprise Bank & Trust. The stock options will be cancelled and will no longer be exercisable effective as of the closing date of the Merger, July 21, 2021.